The Financial Action Task Force (FATF), a global regulatory firm based in Paris and comprised of countries ranging from China to the U.S., said it was going to increase scrutiny over digital currencies to make sure they weren’t being used to launder money, according to...
In a Financial Times opinion piece, Facebook Co-founder Chris Hughes contends that the social media platform’s Libra cryptocurrency could move power into the wrong hands. At the same time, he noted that regulators should not underrate the disruptive potential of the cryptocurrency. Hughes pointed out...
While Facebook is aiming to have its Libra crypto power transactions and provide access to financial services to those without bank accounts, European central bankers are claiming oversight over the digital currency. They want to make sure that the digital currency isn’t used for money...
Bank of England (BOE) Governor Mark Carney said Facebook’s newly-announced cryptocurrency, Libra, can’t be the same unregulated type of service that Facebook is, according to a report by Reuters. “The Bank of England approaches Libra with an open mind but not an open door,” Carney...
News of the launch of Facebook cryptocurrency Libra has highlighted how the U.S. government will respond to the introduction of new digital currencies. The Wall Street Journal is reporting that the Federal Reserve and the Senate Banking Committee will both closely scrutinize the implementation of...
The announcement of Facebook’s Libra has buoyed other cryptocurrencies, especially Bitcoin, which gained in the neighborhood of 12 percent this week, to $9,477. However, supporters of the coin want it to reach the $10,000 mark, a threshold which could be difficult to accomplish, according to...
Amid the news this week that a new cryptocurrency would debut — that would be Facebook’s Libra, of course — might the regulatory landscape be shifting enough so that the institutionalization of crypto, for trading and perhaps for commerce, hits a few snags? The Wall...
Facebook’s Tuesday (June 18) news of the launch of its Libra cryptocurrency was heard around the world, and the Group of Seven (G7) nations definitely noticed, with the coalition calling for an investigation into the supposed risks of cryptocurrencies and how they would affect the...
As bitcoin hovers around $9,100, as Libra may (or may not) give the marquee cryptocurrency a run for its virtual money, it’s worth noting what lies behind the wild price swings — especially the ones that have ramped prices from sub $4,000 levels in short...
